Cantor Fitzgerald Analysts Give AxoGen (AXGN) a $37.00 Price Target
Cantor Fitzgerald set a $37.00 price objective on AxoGen (NASDAQ:AXGN) in a report released on Monday. The firm currently has a buy rating on the medical equipment provider’s stock. Cantor Fitzgerald also issued estimates for AxoGen’s FY2017 earnings at ($0.31) EPS and FY2018 earnings at ($0.27) EPS.
Several other research firms also recently commented on AXGN. Jefferies Group assumed coverage on AxoGen in a research note on Thursday, November 30th. They issued a buy rating and a $35.00 price objective on the stock. Leerink Swann upped their price objective on AxoGen from $26.00 to $30.00 and gave the company an outperform rating in a research note on Tuesday, November 21st. Lake Street Capital boosted their target price on shares of AxoGen from $22.00 to $26.00 and gave the company a buy rating in a report on Tuesday, November 21st. Wedbush reissued a buy rating and set a $27.00 target price (up previously from $22.00) on shares of AxoGen in a report on Tuesday, November 21st. Finally, Roth Capital reissued a buy rating and set a $21.00 target price (up previously from $18.00) on shares of AxoGen in a report on Tuesday, September 12th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. AxoGen currently has an average rating of Buy and a consensus target price of $29.33.
AxoGen (NASDAQ AXGN) traded up $0.45 during trading on Monday, reaching $27.75. The company had a trading volume of 251,500 shares, compared to its average volume of 422,650. AxoGen has a fifty-two week low of $8.75 and a fifty-two week high of $31.70. The company has a current ratio of 3.55, a quick ratio of 2.95 and a debt-to-equity ratio of 1.93. The stock has a market capitalization of $930.76, a P/E ratio of -66.07 and a beta of 0.89.
In other news, Director Jamie Mark Grooms sold 38,405 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $26.35, for a total value of $1,011,971.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Guido J. Neels sold 1,150,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $19.74, for a total transaction of $22,701,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,293,990 shares of company stock worth $26,494,898 in the last three months. Insiders own 9.33% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of AxoGen by 9.0% in the second quarter. Vanguard Group Inc. now owns 1,223,069 shares of the medical equipment provider’s stock worth $20,486,000 after purchasing an additional 101,245 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of AxoGen by 293.9% in the third quarter. Bank of New York Mellon Corp now owns 631,563 shares of the medical equipment provider’s stock worth $12,222,000 after purchasing an additional 471,209 shares during the period. State Street Corp increased its holdings in shares of AxoGen by 19.6% in the second quarter. State Street Corp now owns 438,641 shares of the medical equipment provider’s stock worth $7,350,000 after purchasing an additional 71,752 shares during the period. Castleark Management LLC bought a new position in shares of AxoGen in the second quarter worth $5,426,000. Finally, Northern Trust Corp increased its holdings in shares of AxoGen by 7.8% in the second quarter. Northern Trust Corp now owns 308,360 shares of the medical equipment provider’s stock worth $5,165,000 after purchasing an additional 22,319 shares during the period. 66.00% of the stock is currently owned by hedge funds and other institutional investors.
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AxoGen Company Profile
AxoGen, Inc provides surgical solutions for peripheral nerve injuries. The companys surgical nerve repair solutions include Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site; AxoGuard Nerve Connector, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed nerves; and AxoGuard Nerve Protector, a porcine submucosa ECM product that is used to wrap and protect injured peripheral nerves, as well as reinforces the nerve reconstruction while preventing soft tissue attachments.
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